I feel like this must’ve been covered before, but I searched for “ISA withdrawal” and couldn’t find anything so I apologise to @Vedran in advance of him sending me a link to an existing topic! :wink: Does Trading 212 support the withdrawal and reinvestment of funds from an ISA within the same tax y…

There are plenty of ISA experts on board. :thinking: I just found this topic: [image] UK, ISA, allowance, rebalancing: can I rebalance without killing allowance? 🤝 Help Yes you can do whatever you want inside the ISA. However if you withdraw these profits and then deposit…

HMRC does not allow funds to be withdrawn from an ISA and then later returned. If you put £10,000 in an ISA, withdraw it and then return it, then it is as if you have put in £20,000. The limit for the year is £20,000 so no more may be put in.

It does actually, but only if the ISA is a flexible ISA. T212’s isn’t.

Sorry, but that’s definitely not true since Flexible ISAs were introduced. I’ve been doing it regularly with my other ISAs since their introduction.

Curses @Vedran ! I knew you’d catch me out! I saw the title of that topic, but it didn’t seem relevant to my question. Anyway, that was helpful, because it reminded me of the terminology “Flexible ISA”.

Sorry, you are correct. I expect there must be some conditions on what is permitted. Does the flexibility only concern cash that has not yet been used to buy shares?

Its professional deformation lol Google this Google that. :beers:

It’s as flexible as you can possibly imagine. You can withdraw years and years worth of ISA allowance that has been invested in the stock market. You do need to sell the shares though. It’s a bit like Cinderella: the money has to be back before the end of the tax year that it’s withdrawn in, otherw…

Anyway no official reply on flexible ISA so, one could have to wait T212 to reply about roadmap or consideration. Only seen LISA/JISA topics getting official comments.

If it’s definitely not a Flexible ISA, and I need to withdraw some money temporarily, I could see myself performing an ISA transfer to a flexible ISA, withdrawing the money and then reversing the process so that my money ends up back with Trading 212. I hope it doesn’t come to that, but is there an…

ISA Withdrawals and Reinvestments in the Same Tax Year

🤝 Help

Vedran June 27, 2020, 2:49pm 2

There are plenty of ISA experts on board.

I just found this topic:

Maybe useful…

1 Like

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ISA Withdrawals and Reinvestments in the Same Tax Year

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